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Author
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Topic: Time Share Sale
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paula5505
Non MemberPosts: 1
From: Eldersburg, Maryland, USA
Registered: Jun 2005
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posted 06-02-2005 08:33
    
I could use some advice regarding the sale of my timeshare. I hired a company (DPM Marketing - Shane Mills) off of the internet last September. I paid a non refundable advertising fee of $499 which they debited directly out of my checking account. The only ad I saw posted was on their Time Share B Gone internet sight. Last March they said there was a buyer, but they needed me to front $449 of the closing costs which I would get back with the end result of the sale. I also received an E mail stating that if for some reason the sale did not go through in 8 weeks, I would get my $449 back. I can only rarely get this gentleman on the phone or his female associate. All I get is a lot of double talk. It has been over three months and I have not received either a contract, a refund or even so much as a call or E mail back as to the status of the sale. I am now convinced that this is a scam. Do I have any legal recourse to get my money back? If not, is there anything that can be done to get this person off of the internet so that he cannot scam others? I am seriously thinking of donating my timeshare at this point. Can you tell me who I can legitimately donate to? Will I get a tax break? As you can see, I am at the end of my rope with this and do not know where to turn. I would appreciate any advice you can give me. Thanks.IP: Logged |
Hatrack79
TUG MemberPosts: 1938
From: Denver, CO
Registered: Oct 2001
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posted 06-02-2005 08:45
Paula,yes, there are scammers that actually never sell a timeshare (don't know this particular one....but sounds like they are). Their business model is usually to collect the $499 once or twice and never lift a finger....they don't really have a buyer. TUG advice is to never, never pay an upfront fee. If approached by one, offer to pay them $499 commission out of the proceeds of the sale...offer them $1000 or $2000 commission out of the proceeds of the sale. IF they really knew how to find your buyer...wouldn't they rather have $1000 ? THe answer is that they don't have a buyer for you....they only want easy money upfront. sorry for your loss. Someone else might be able to comment on recovery/reporting them. There's also an advice article (see the upper right corner of this screen....on the red stripe)....on selling. Yes you can donate your TS to charity. A few TUG experts will be along to comment there as well. I believe you can deduct the fair market value from your income tax. If it were worth $5000 or more you need it appraised (not to be confused w/ upfront fee scammers that call their $499 upfront scam fee an "appraisal".) One TUG member represents the German Language School, that takes donation of TS's. You can search for "donating" here on TUG and read some other past postings on the subject. You can also put it on Ebay for $1 with no 'reserve'. You might net more than the tax deduction is worth. [This message has been edited by Hatrack79 (edited 06-02-2005).] IP: Logged |
Pila
TUG MemberPosts: 105
From: Hayward, CA USA
Registered: Dec 2000
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posted 06-02-2005 08:50
You are right, you got scammed! Hindsight is always better, but too bad you did not find TUG sooner. Upfront fees are a common scam that you will find TUG will warn you about. There are numerous threads on this topic.You can place an ad on TUG or use EBAY to sell your T/S. Donating your T/S may not be the best approach as the value for tax deduction is fixed to what the charity can sell it for. IP: Logged |
Dave M
Administrator
TUG MemberPosts: 6810
From: Boston, MA
Registered: Dec 2000
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posted 06-02-2005 08:58
quote:
Originally posted by Pila:
Donating your T/S may not be the best approach as the value for tax deduction is fixed to what the charity can sell it for.
That's the general rule for donations of autos as of January 1 this year. However, the allowable deduction for timeshare donations is still "fair market value". That means that if you can sell your week in the resale market for (let's say) $4,000, you can donate it and claim a deduction for $4,000, even if the charity then sells it for less than that. IP: Logged |
jules40
TUG MemberPosts: 190
From: Fuquay Varina, NC, USA, Own: Barony Beach
Registered: Feb 2003
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posted 06-02-2005 16:11
This sounds exactly like the scam my father fell for. He paid $400 up front and then another $900 and has not had any results. He cannot get anyone on the phone that knows anything about the status of his time share. Also, they told him that he could sell the timeshare for more than what he paid for it. I kept telling him over and over that he would not get nearly what he paid for it and now he's finally listening to me. I am now in the process of trying to help him figure out how to sell his time share.
Julie IP: Logged |
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